Incara Pharmaceuticals reported a profit of $86,000 for its latest quarter. But the bounce came from a one-time transaction — the sale of its liver cell therapy program for $1.91 million.
For the quarter, Incara reported expenses of $1.6 million.
The sale was part of Incara’s attempt to stay in business. As of Dec. 31, it reported having $571,000 in cash and $1.69 million in assets. In January, the company said most of its executives would defer taking salaries and three of 18 employees were laid off.
Incara has refocused its business on a series of molecules that have demonstrated an ability to reduce cell damage in animals that have undergone cancer radiation therapy or have had strokes or chronic bronchitis and asthma.